After nine years of its launch, the social network to share photos by interests last Friday its initial public offering: finally comes the Pinterest IPO. According to Forbes reports, aims to achieve an assessment of at least 12,000 million dollars (about 10,600 million euros).
April will be the month of the Pinterest IPO
In the documents submitted for the Pinterest IPO it has been indicated that the platform generated revenues of 755.900 million dollars (just over 670,000 million euros) during 2018, just a little less than twice what it managed to generate in 2017, with net losses of around 68 million dollars (60 million euros), slightly more than half of the 130 million dollars (115 million euros) lost in 2017.
Valued at 12,300 million dollars (10,900 million euros) after its last round of fundraising in 2017, it has made its co-founders, Ben Silbermann and Evan Sharp, the youngest billionaires in the world. This figure makes Pinterest the 11th most valuable startup in the world, in a top led by Bytedance, owner of TikTok (76,000 million dollars).
Although the unpublished Pinterest document does not fully indicate the ownership shares of the co-founders, it does clarify that the company has a dual share structure, very common in Silicon Valley, which means that despite having less than half of the shares, the co-founders will have a majority vote on the company.
Despite its slow takeoff, Pinterest has established itself as one of the giants of social networks
Pinterest allows its users to create walls with collections of photos online on topics related to fashion, recipes, home decoration or any other topic that may serve as inspiration. Also, the social network based in San Francisco has more than 250 million monthly active users currently.
The company was founded in 2010. However, it was not an overnight success. Its user base has grown slowly over time, and it took a long time to convince investors to open their funds.
Currently, Pinterest has been monetized in two ways: online commerce and advertising. In February 2017 the company launched a tool with which users can click individually on any pointed object, such as furniture, clothing or accessories for recommendations of similar items that can be purchased through participating brands or even buy in your app using the button that was added since 2015.
Since then many brands publish images of their products on their platform to attract more customers, since in addition to being a social network also works as a search engine.
In addition to the Pinterest IPO, this year other unicorns such as Uber, Lyft and Slack could go on the market. In its documentation, Pinterest does not mention the amount of shares that will be put up for sale, nor the price for each one, but we will soon know these details since its exit could become effective during the next month of April.